Fund Rankings Update, 11/06/2015

Weekly Average Momentum Index (AMI) rankings of HSA, SSPP, RSP, SELECT, ETF, iETF, sETF have been posted in "Rankings", "Trading Logs" pages, and  http://ycprankings.awardspace.us/RankingTables.htm.

Trading signal occurs in sETF model portfolio: Sell Cash, Buy IGM.
Major indices continued to march higher for the sixth week.  Job report Friday showed US economy added more than 270,000 jobs in October far better than the expected 185,000. The job report not only provided evidence that US economy growth is still on track, it also provided ammunition  for FED to raise interest rate in December. For the week S&P 500 index closed at 2099, up 0.95%, Dow Jones Industrial Average gained 1.4% and Nasdaq composite index ended up higher by increasing 1.85%

Weekly chart of S&P 500 index

 Three weeks ago, S&P 500 index climbed above it 28 week moving average and its STO went higher than 50 signaling the close of the 9 week correction phase. The next question is whether the index can maintain its momentum and resume the up trend is had before the correction. In the last two blogs, I have said that the rally has been very strong and the index has move up very fast. It will be healthier if the index can take a pause for a couple of weeks to digest its gain and move higher afterwards.  At the same time, the index is approaching the resistance of previous high in 2125 area so some consolidation action are expected. 

Another model portfolio move from the cash position to long equity position. sETF model portfolio has met its 30 day holding threshold for cash position and move to buy the current number 1 rank fund, IGM, in the sETF table. With this change, only two model portfolios, HSA and RSP, are left to hold more defensive funds.